Targeting the Indian Startup ecosystem, Qualcomm has added $150 Million to it’s India specific fund to help the startups working in mobile or IoE (Internet of Everything space). Sectors of investment will include hardware, software platforms, e-commerce, healthcare, location-based services, and retail technology.
Talking about Qualcomm as an investor, the investment arm of tech giant has been active ever since 2006 and it has made significant investments in over 20 Indian Startups including Housing, MakeMyTrip etc.
“We share Prime Minister Narendra Modi’s vision to transform India into a digitally-empowered society and knowledge economy. India is at the cusp of a technology revolution and mobile technologies will lay the foundation for Digital India,” said Paul E Jacobs, Executive Chairman, Qualcomm.
Qualcomm, along with having an active VC firm, organizes various competitions to provide seed money to the potential tech enthusiasts.
The announcement of $150 Million fund is also a part of India’s Prime Minister visiting United States to explore more opportunity for Indian Startups ecosystem.
“We are committed to provide these companies with the support needed to help propel them forward in the competitive Indian region. We’re excited about the new prospects in India and look forward to growing our portfolio,” said Nagraj Kashyap, Senior Vice President of Qualcomm.